A modern trend for using mobile devices is to access various online user accounts, make electronic payments, execute online transactions, and the like raises. However, these online activities have led to issues relating to the reliability and the security of authentication process. These concerns are not adequately addressed by conventional mobile device technology. For example, the two-factor authentication method is used in which a user is provided additional authentication data (e.g., a one-time password) via SMS (“short message service”). However, this method is not always safe and reliable as the SMS containing the authentication data can be intercepted by malicious entities.
Accordingly, there currently exists a desired to provide a more reliable and secure method for authenticating users before allowing access to online accounts and enable only transactions and the like.